BSE benchmark Sensex suffered losses on Friday as investors pocketed gains after a five-session winning streak amid a bearish trend overseas.
A depreciating rupee further soured risk sentiment, traders said. The 30-share gauge, which had started the trade on a firm note, soon gave up all the gains and finally ended 651.85 points, or 1.08 per cent, lower at 59646.15.
The broader NSE Nifty snapped its eight-day rally to close at 17758.45, down 198.05 points or 1.10 per cent. The rupee depreciated by 20 paise to close at 79.84 against the dollar amid a strengthening greenback overseas.
Forex traders said the dollar index witnessed an upturn after comments from US Fed officials over the quantum of rate hikes weighed on investor sentiments. The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.18 per cent to 107.67.
Foreign portfolio investors turned net buyers, purchasing shares worth Rs 1,110.90 crore on Friday. World stocks treaded lower amid concerns over the health of China’s economy and rate hikes by global central banks.
In Asia, markets in Seoul, Shanghai and Tokyo ended lower, while Hong Kong settled in the green. Stock markets in Europe were trading mostly lower. Wall Street had ended higher on Thursday. Brent crude was trading 1.38 per cent lower at $95.25 per barrel.
